The company shall not 1. demand or receive payment, prepayment or repayment of, or any distribution in respect of any of the subordinated debt in cash or in kind from the borrower or any other source or apply any money or property in discharge of any subordinated debt except in each case for permitted payments 2. discharge the subordinated debts by set-off. See the mortgage charge document for full details.

All monies due or to become due from the regard partnership limited to the chargee on any account whatsoever